Last year's rumours of even more job cuts at UBS resurfaced over the weekend. According to Swiss newspaper Sonntag (quoted in Reuters), another 5,000 jobs could go at UBS this year, with the bank likely to reveal further headcount eliminations when it announces its results in February. Sonntag also thinks Credit Suisse will extract another 5,000 staff. A Credit Suisse spokesman told Sonntag the bank currently has no plans to make further cuts, while a UBS spokesman ominously indicated that a staffing update will be given next month.
Separately, The Telegraph ran a weekend article stating what we thought was already common knowledge - that Credit Suisse bankers might have to repay the cash element of their toxic bonuses if they dare to leave. A spokesperson for the company clarifies that this doesn't apply to people who are made redundant.
The all new Asset Protection scheme (Financial Times).
"The short sellers in Barclays are getting hammered." (Telegraph).
20% of jobs go at Morgan Stanley's funds arm (Financial News).
Not many job cuts at BNP Paribas in Asia (Financial News).
Four day week at KPMG (Telegraph).
Giving your (dying) job search the kiss of life. (Wall Street Journal).
Thain earned that bonus (NY Times).
Citigroup seeks banking veterans to assist with self-dismemberment
Tokio Marine Asset Management expanding in London (Financial News).
George Soros is opening a new office in London (The Times).
The Teaching and Development Agency is running introductory events at a venue near you very soon (Independent).
Disclose your salary to meet a beautiful female (Independent).
Wealthy men give women more orgasms (The Times).